GBP/USD churns below 1.27 ahead of UK CPI inflation print
GBP/USD churned chart paper just south of 1.2700 on Tuesday as Cable traders brace for a decently-sized UK data dump due on Wednesday, headlined by UK Consumer Price Index (CPI) inflation figures for October. US economic data takes a reprieve on Wednesday, leaving Cable markets the floorspace to focus on data that might tilt the Bank of England (BoE) toward or away from further rate cuts this year. Read More…
Pound Sterling slumps after MPC hearings, fresh escalation in Russia-Ukraine war
The Pound Sterling (GBP) fails to hold onto Monday’s recovery against the US Dollar (USD) and falls back in North American trading hours on Tuesday. The GBP/USD pair retreats as the US Dollar bounces back after fresh escalation in geopolitical tensions, which improved demand for safe-haven assets. The US Dollar Index (DXY), which gauges Greenback’s value against six major currencies, rebounds from 106.10 and aimd to recapture the annual high of 107.00. Read More…
GBP/USD trades with mild positive bias on softer USD, remains below 1.2700 mark
The GBP/USD pair attracts buyers for the second straight day on Tuesday amid a modest US Dollar (USD) downtick and climbs back closer to the 1.2700 mark during the Asian session. Spot prices, however, lack bullish conviction as investors opt to wait for the Bank of England’s (BoE) Monetary Policy Report Hearings before placing aggressive directional bets. Read More…
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